London’s Build to Rent (BTR) sector could be given greater flexibility in bringing new developments forward under proposed changes to affordable housing policy contained within the new draft London Plan. Published by the Mayor of London, the draft plan sets out the capital’s planning framework for the coming decades and proposes a revised approach to affordable housing thresholds, reflecting significant differences in development viability across London. For BTR developers and investors, the proposals are potentially significant. The draft retains a dedicated Build to Rent policy, while changes to the wider affordable housing threshold approach are intended to provide a more flexible route for residential schemes in locations where viability has become increasingly challenging. Rather than applying the same Fast Track affordable housing threshold universally, the proposed system would allow thresholds to vary between different parts of the capital according to development values and viability. The Mayor’s strategic ambition remains for 50% of new housing to be affordable, but the percentage required to qualify for the Fast Track planning route could differ by location. The intention is ultimately to move the threshold back towards 35% from 2028 in as many boroughs as possible, with different thresholds applying elsewhere where viability evidence supports a more flexible approach. Boroughs could subsequently move between bands as market conditions improve. For London’s BTR market, greater flexibility could help unlock developments that have struggled to progress amid higher construction costs, financing pressures and viability challenges. The changes could also have implications throughout the built environment supply chain. A stronger pipeline of viable BTR projects would support opportunities for architects, planning consultants, contractors and engineers, as well as specialists in façades, M&E, fit-out, landscaping and public realm. BTR has become an increasingly established component of London’s residential market, bringing institutional capital into the delivery and long-term management of purpose-built rental homes. The existing London Plan already provides a specific planning framework for BTR, including requirements around unified ownership and management and affordable rental provision. The new proposals should not yet be regarded as settled policy. The draft London Plan is currently undergoing public consultation until 15 October 2026 and will subsequently face an independent Examination in Public, with final adoption currently expected in early 2028. For developers, investors and construction teams considering future London BTR projects, however, the direction of travel is important. A more location-sensitive affordable housing framework could provide greater certainty and flexibility, potentially helping more residential schemes move from planning and viability assessments into construction. Building, Design & Construction Magazine | The Choice of Industry Professionals

Pontegadea, the private investment company of Spanish billionaire Amancio Ortega, has made its first move into the UK Build to Rent (BTR) market with the £150 million acquisition of a residential development on London’s Baker Street. The transaction sees Pontegadea acquire 219 Baker Street in the West End from investor and developer Ridgeback Group, adding 86 apartments to an already substantial UK property portfolio. The deal, equivalent to approximately €175 million, represents a reported yield of 4%. Ortega is the founder and main shareholder of Inditex, the global fashion group behind Zara and brands including Pull&Bear and Massimo Dutti. While his wealth is closely associated with the international retail sector, Pontegadea has built up a major global property portfolio, with UK real estate holdings now valued at more than £2.7 billion. The Baker Street acquisition is particularly notable from a built environment perspective because of the history of the property itself. The Grade II-listed Art Deco building was originally constructed in 1932 as the headquarters of Abbey National, which later became part of Santander. The building was converted to residential use in 2004 and subsequently upgraded by Ridgeback. Its acquisition provides Pontegadea with an immediate foothold in the professionally managed UK rental market without the development and construction risks associated with delivering a new BTR scheme from the ground up. The deal also extends the investor’s presence across different areas of the UK property market. Its existing London assets include The Post Building on New Oxford Street, while in 2025 Pontegadea acquired an 850,000 sq ft Amazon logistics warehouse near Liverpool for £81 million. The move into BTR comes at a significant time for institutional investment in UK rental housing. BTR transactions reached a record £2.2 billion during the second quarter of 2026, demonstrating continued investor appetite for established, income-producing residential assets despite wider pressures facing development and construction. For the wider property sector, the £150 million Baker Street transaction is another indication of how the UK rental market is attracting international capital traditionally associated with commercial real estate. Pontegadea’s arrival adds another major global investor to the sector and, with an established London residential asset providing its entry point, could signal further interest from the group as the UK BTR market continues to mature. Building, Design & Construction Magazine | The Choice of Industry Professionals

Construction is gathering pace at the £46 million Nursery Street Build to Rent (BTR) development in Sheffield, as structural works progress on a scheme set to bring new purpose-built rental homes to a prominent brownfield site in the city. The development is transforming the former Coroner’s Court site on Nursery Street, replacing previously developed land with a new residential scheme designed specifically for the rental market. Plans for the site include 101 BTR homes, comprising 31 studios, 35 one-bedroom apartments and 35 two-bedroom apartments. The development also incorporates a range of resident amenities, including a gym, co-working facilities, a recording studio, communal kitchen space and cycle parking. With structural construction now advancing, the project is moving into an increasingly visible phase, adding to the pipeline of new residential development reshaping Sheffield and supporting the continued growth of BTR beyond the UK’s largest cities. Sustainability has also been incorporated into the development strategy. Earlier project information outlined proposals for air source heat pumps, photovoltaic panels and low-energy lighting as part of a drive to deliver homes to high energy performance standards. The scheme has also attracted public investment, with South Yorkshire Mayoral Combined Authority documentation previously approving £1.7 million of grant support towards the development. The authority highlighted the regeneration benefits of bringing a derelict brownfield site back into productive use while delivering new rental accommodation and improving the surrounding area. Nursery Street comes at a time when Build to Rent is playing an increasingly important role within the UK residential development market, particularly in regional cities where demand continues for professionally managed, amenity-led rental accommodation. For Sheffield, the development represents more than the delivery of new apartments. By regenerating an underused urban site and combining new homes with shared facilities and energy-efficient building technologies, the project contributes to the wider evolution of the city centre residential market. As the structure continues to rise, Nursery Street is set to become another significant addition to Sheffield’s expanding BTR landscape. Building, Design & Construction Magazine | The Choice of Industry Professionals

Watkin Jones has completed two major Build to Rent (BTR) developments during its 2026 financial year, marking further progress for the residential developer as it continues to deliver large-scale schemes despite challenging market conditions. The completions represent another important milestone for Watkin Jones, which has established a significant presence across the UK’s purpose-built rental and student accommodation sectors. Among the developer’s major BTR projects is Loftlines, a significant residential development that forms part of the wider regeneration of Belfast’s Titanic Quarter. The project demonstrates the scale and ambition of the purpose-built rental schemes now being delivered in major UK cities, combining new homes with the amenity-led approach increasingly associated with modern BTR development. Watkin Jones has also progressed its Tai Afon BTR development in Cardiff, adding further purpose-built rental accommodation to its portfolio and strengthening the company’s presence within the residential market. The latest completions arrive against a demanding backdrop for the UK development sector. Higher construction costs, financing pressures and changing investment conditions have all influenced the pace at which new residential projects can be funded and brought forward. Despite these challenges, BTR continues to represent an important area of activity within the UK housing market, supported by demand for professionally managed rental accommodation and continued institutional interest in residential property. For the wider construction and built environment industry, the delivery of major BTR developments also creates opportunities across a substantial supply chain. Large schemes require expertise spanning main contracting and structural construction through to façades, M&E services, fit-out, landscaping and public realm, before moving into long-term property and facilities management following completion. Watkin Jones’ latest progress therefore provides another indication of the continued evolution of the UK BTR sector, particularly in regional cities where large residential developments are increasingly becoming an important component of wider regeneration strategies. With two major BTR schemes reaching completion during FY26, Watkin Jones continues to demonstrate its ability to take substantial residential developments through construction and into operation while navigating a more challenging development and investment environment. Building, Design & Construction Magazine | The Choice of Industry Professionals

Councillors and senior leaders across Yorkshire have gathered at a transformative Keepmoat housing scheme in Driffield. East Riding of Yorkshire Council officers and the cabinet member for housing and infrastructure, alongside representatives from Homes England attended the event to celebrate the transformative scheme The new development, which will deliver 313 new homes, represents a £77 million investment into the area from top 10 housebuilder Keepmoat as it expands its presence in the county. Of the new homes being built, a proportion will be available as affordable housing, through the local council, to create housing options that will meet the needs of people in the area. Land & Partnerships Director at Keepmoat Yorkshire East, Ben Hindley, added: “It is great to welcome members of the council, Homes England and the wider community down to see the fantastic progress taking shape at our Poppy Place site. “At Keepmoat, we are proud to be developing a community situated in Driffield, a location with strong transport links and a wide range of amenities. This development represents a significant investment in the local area, and it has been great to work closely alongside our partners to bring high-quality, energy-efficient homes to the area.” Ciaran Aldridge, Regional Managing Director at Keepmoat Yorkshire East, said: “It’s fantastic to see the hard work of our site team recognised through developments like Poppy Place. It showcases Keepmoat’s continued commitment to creating thriving communities within the local area. “Seeing the development come together, and knowing these will soon be homes for local families has been great to see and we can’t wait to welcome the first residents in.”The homes at Poppy Place will also be delivered with modern energy-efficient housing standards as 100 per cent of the homes will be gas-free. Councillor Michael Lee, East Riding of Yorkshire Council Cabinet Member for Housing and Infrastructure said: “We’re proud to support communities across the East Riding, including in Driffield, through the expansion of affordable housing provision.” Keepmoat is a leading partnership homebuilder with a track-record of delivering quality new homes across the UK at prices people can afford. To date, almost 70 percent of its current developments are on brownfield sites. To find out more on Poppy Place, please visit: www.keepmoat.com/poppy-place-driffield Building, Design & Construction Magazine | The Choice of Industry Professionals

US real estate investor Kennedy Wilson is set to significantly increase its exposure to the UK Build to Rent (BTR) market after being selected as preferred bidder for Notting Hill Genesis’ £750 million Folio rental portfolio. Kennedy Wilson is understood to have entered exclusivity with Notting Hill Genesis (NHG), with due diligence now set to progress on the proposed acquisition. The portfolio comprises 2,079 rental homes across 15 developments in London and Chelmsford and is currently around 98% let. The transaction would represent another major institutional investment into the UK’s operational BTR and private rented housing market. Around 85% of the Folio homes are located in London, with schemes spread across boroughs including Newham, Greenwich, Southwark, Ealing, Croydon, Barnet and Hammersmith and Fulham. Among the portfolio’s largest assets is Royal Wharf Estate in Newham, where Folio owns 338 homes, while City Park West in Chelmsford accounts for a further 317 properties. Approximately nine in ten homes across the portfolio are one and two-bedroom apartments, while 98% have an EPC rating of C or above. The sale process, known as Project Vanguard, has been run for NHG by UK professional services adviser Deloitte. Kennedy Wilson emerged ahead of rival interest from Hyde Group and a partnership between investor Adira and European asset manager Hayfin. For Kennedy Wilson, the acquisition would build on an already expanding presence within the UK rental housing sector. Its suburban BTR partnership with Canada Pension Plan Investment Board, established in 2024, has grown to around 2,000 homes across 23 sites. The scale of the Folio transaction also demonstrates the continuing attraction of established rental portfolios to large institutional investors seeking immediate exposure to income-producing UK residential assets. From a wider built environment perspective, investment of this scale also creates long-term requirements around property management, maintenance, refurbishment, building services and improving the energy performance of residential assets. If completed, the £750 million acquisition would position Kennedy Wilson as an increasingly significant player in UK BTR while adding further momentum to institutional investment across the country’s professionally managed rental sector. Building, Design & Construction Magazine | The Choice of Industry Professionals

Independent housebuilder Dandara has officially begun construction at its Linmere development in Houghton Regis, Bedfordshire. The Anglo Gate development will deliver 165 new homes to the area. Dandara is building a mix of private and affordable two-, three-, four-and five- bedroom properties across the 11-acre site, forming part of the wider Linmere consortium scheme delivered by Master Developer Land Improvement Holdings. The wider scheme is set to provide up to 5,000 homes and a range of community amenities across Linmere over the coming years. Construction work has commenced on Parcel 1, which will comprise 58 private sale units within Bidwell Green, while Parcel 6 will deliver 107 units within the Barns and Baileys Character Area. Across the developments, a range of architectural styles, brick tones and materials are being used to create a distinct neighbourhood identity while reflecting the local character of the area. As part of the Section 106 agreement, Anglo Gate will contribute to three new primary schools and a new secondary school next door as well as public open space and green infrastructure. Sustainability commitments also include the use of responsibly sourced materials, including timber, from sustainably managed forests where possible. The first homes are expected to launch for sale in October 2026, and the show homes are expected to launch in Spring 2027. Simon Pendlebury, Managing Director at Dandara Northern Home Counties, said: “Breaking ground at Linmere is an exciting step forward as we begin delivering much-needed private and affordable homes in Houghton Regis. As part of Dandara’s ongoing commitment to creating sustainable, high-quality developments across the region, Linmere represents an important investment in the area’s future. “It is rewarding to be able to form part of the wider consortium to bring community amenities and green infrastructure improvements to the area, which will serve new and existing residents. We look forward to progressing with construction at Anglo Gate and seeing the first residents put down offers on their future homes.” Houghton Regis has a variety of amenities, including supermarkets, independent shops, cafes, restaurants, health facilities and parks including Houghton Hall Park, perfect for a family day out at the weekend. Dandara continues to expand its presence across the Northern Home Counties, with new homes currently being delivered across Bedfordshire and Buckinghamshire, including The Acres, Meadow View and Manor Park developments. To find out more about the new homes coming to Linmere visit www.dandara.com/linmere. Building, Design & Construction Magazine | The Choice of Industry Professionals

A £67.2 million financing package has been agreed to support the delivery of Harlech Court, a major 30-storey build-to-rent development currently under construction in Cardiff. Close Brothers Property Finance has provided the facility to Draycott Group for the 340-home residential scheme, which is set to become one of the tallest buildings in Wales and make a significant addition to Cardiff’s evolving skyline. Construction is already progressing on site, with the main tower crane now installed. Intelle Construction is leading delivery as main contractor, while Stephenson RC Frames has been appointed as frame contractor. The development represents Draycott Group’s largest project to date and will provide 340 purpose-built rental homes within a high-rise scheme in the Welsh capital. The substantial funding agreement provides further momentum for the construction programme and demonstrates continued investment in Cardiff’s build-to-rent market as demand for professionally managed rental accommodation grows in major regional cities. Phil Hooper, CEO of Close Brothers Property Finance, said: “Harlech Court is exactly the type of scheme our Structured Finance team was set up to back: a landmark development in an excellent central location in a capital city that continues to see strong demand for quality rental stock.” For Draycott Group, Harlech Court builds on more than four decades of involvement in Cardiff’s residential and commercial property markets. Sajid Ghaffar, CEO of Draycott Group, said: “This is the largest scheme that we have delivered to date and it will transform the Cardiff city skyline. “Cardiff is a market we know extremely well, having been active in residential and commercial property development for over 40 years, and Harlech Court builds on that long-standing track record.” The project adds to the growing pipeline of build-to-rent development across the UK’s regional cities, where larger residential schemes are increasingly combining significant institutional and specialist development finance with high-density construction. With the tower crane now in position and the £67.2 million finance facility secured, construction at Harlech Court is set to gather pace as the 30-storey development begins to take its place on the Cardiff skyline. Building, Design & Construction Magazine | The Choice of Industry Professionals

Taylor Wimpey North Thames has now launched its new 191-home Rose Meadows development in Chiswell Green. The development will bring a range of three, four and five-bedroom homes to the community with prices starting from £665,000, providing a wide selection of house types to cater to a range of buyers from first-time buyers to growing families. The offering also includes 76 affordable homes. Rose Meadows will also comprise six self-build plots, as well as green open space, play areas and wildlife habitats.  Taylor Wimpey’s development is part of a larger community that will eventually comprise up to 391 new homes and land for a new primary school. Each home at Rose Meadows will feature PV panels, triple glazing, smart heating, and EV charging to keep energy bills low and to allow for a sustainable lifestyle Paresh Pandya, Senior Sales Manager for Taylor Wimpey North Thames, said: “We are pleased to have launched our Chiswell Green development, Rose Meadows. Over 1,500 househunters registered their interest in the development before its launch, and we invite anyone looking to make a move to the area to get in touch with our friendly sales team to find out about the offers and incentives available to avoid disappointment.” To find out more about Rose Meadows, please visit www.taylorwimpey.co.uk/new-homes/st-albans/rose-meadows.  Building, Design & Construction Magazine | The Choice of Industry Professionals